Future Group Plans to Launch its E-Commerce Platform

download (1)Future Group is planning to launch its e-commerce platform for the second time. The service will be live in October. Few years ago, it had tried to foray into the online retail space but without success. The group is supported by a Europe-based company, Hybris technology to set up the portal, as well as in other information technology-related issues.

By October, the electronics category will be online, to be followed by sports. By the year-end, the entire Big Bazaar store will be online across India,” Kishore Biyani, chief executive of Future Group, told Business Standard.

Once we venture into e-commerce, we will reach across India, in all cities possible,” Biyani said. The group is already running an e-commerce pilot in Akola, Amravati and Bhilwara.

See Also: Are Online Retailers really More Valuable than Offline Ones? Just wait till Mr. Biyani says ‘Chalo Online’

Initially, the service will be limited to non-perishable commodities such as fruit, vegetables and meat will be also be sold through the online channel in selected cities. L i & Fung, a Hong Kong-based firm will be undertaken the supply chain management for the e-commerce venture.

The firm is also planning divestments of about Rs 2,500 crore in the coming year for acquisition of new assets. Currently, it runs ‘Big Bazaar’ programme through which kirana stores, or small and medium retailers get traditional supply chains on the demand of customers. The group is expected to have about 50,000 Big Bazaar Direct franchisees by the end of this year, generating an average business of about Rs 5 lakh a year from each franchisee.

In the coming year, the competition will not just be about Flipkart and Amazon. It will be also be about players such as Reliance, Tata, Birla and the Future Group competing for the top spot,” said Arvind Singhal, CMD, Technopak India. (As covered by Business Standard)

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